Big data has led to a number of promising changes for consumers and businesses all over the world. It has led to the growth of nuanced search engines, website personalization features and many other promising benefits. This is one of the reasons that the market for big data is currently worth over $271 billion.
However, there are also some downsides of big data. One of the biggest drawbacks is that is has led to a number of data breaches, which have put a growing number of consumers at risk. Data breaches in the banking sector can cause consumers massive headaches and financial losses. Big data has also led to a number of privacy concerns as well.
